Trend Trading Strategy using Supertrends Backtesting Script that uses a multitimeframeanalysis of the Supertrend Indicator. The trend direction is determind by a higher Timeframe (TF) Supertrend. The entry Signals are given by the Supertrend of the current TF. The script is NOT repainting (the script takes the previous value of the higher TF Supertrend, if the higher TF candle is not confirmed yet).
Strategy Conditions Longs:
The higher TF Supertrend has to be green
The current TF Supertrend change from red to green
Shorts:
The higher TF Supertrend has to be red
The current TF Supertrend change from green to red
Optional:
<Trade higher Timeframe Trendchange> Option: If enabled also a trend chage of the higher TF Supertrend is a valid Entry Signal
<Use ADX Filter> If enabled Signals are discarded if the ADX is below the <ADX Threshold> value
Take Profit On default there is no Take Profit. You can activate a Risk Reward Based Take Profit target trough the option. Also a Partial Take Profit is possible.
Stop Loss The default Stop Loss Strategy is a Trailing Stoploss. As trailing Price the current TF Supertrend is used.
Additional
Time Filter: Only opens trade in the defined Session. Open trades are still being closed outside of the Session.
Start Date/End Date: Limits the backtest for the defined Date Range
Trading Days: Only open Trades on the checked Days
Risk % per Trade: If enabled the Strategy uses X% of the capital (defined in Settings -> Properties -> Initial Capital)
Use Compound Interest: If enabled Capital is recalculated for every trade (initial capital + net Profit)
IMPORTANT: For low Timeframes and Markets with tight SL (like Forex) it requires a lower Margin Percent than default. Go to Settings->Properties and lower the required Long/Short Margin. Otherwise Trades might not be considered because of too less capital/marign. Margins can e.g. set to: 2% (Forex), 10% (Stocks), 20% (Crypto).
Hi Sir, I'm wonder if it is possible you could share the source code with me? I'm trying to build my own strategy with supertrend and found your strategy is really good as an reference
da635778
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nice broth
competitiveBus7927
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Hello, can you make the source code of this indicator available. Thank you Morteza Amani
namnh9595
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really nice tks for this
MrWickTrading
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Love this script! Can you release as an indicator with alerts? Or can you please share the source code and I will do it for you! Thanks!
MrWickTrading
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Can you share the source code for this please?
Emackiew
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Thank you for this script, it’s excellent. Great work